While other oil and gas (O&G) players such as Ezra have been divesting their FPSO assets lately, Malaysia's MISC, claiming to be on a stronger financial footing now, is looking to acquire distressed assets in the segment, local reports said.
Ezra Holdings has entered into a non-binding letter of intent to sell its FPSO Lewek EMAS in order to streamline resources and divert away from ownership of FPSO assets.
Keppel FELS Brasil’s BrasFELS shipyard has clinched a FPSO module fabrication and integration project worth over BRL500m ($137.3m) from MODEC Offshore Production Systems (Singapore).
Budding floating production storage and offloading (FPSO) player Yinson Holdings saw fourth quarter net profit fall 53% to MYR47.43m ($12.1m) from the MYR99.9m in the same period last year due to a disposal loss in the previous year, the company...
Malaysian floating production storage and offloading (FPSO) vessel specialist Bumi Armada has been hit with a contract termination from Woodside Petroleum for its Armada Claire FPSO operating in the Balnaves Field offshore northwest Australia.
Bumi Armada saw its results turn into a loss of MYR234.6m ($55.6m) for 2015 from a profit of MYR218.7m a year ago, due to charges taken on some bad debts.
BW Offshore has announced that it will make redundant some 35% of its permanent onshore employees across global locations as part of an extensive cost reduction programme.
FPSO operator BW Offshore has posted a net loss of $216.3m for 2015 after taking a Q4 impairment of $186.9m to write down to zero the net book value of its ‘goodwill’ in the Oil and Gas sector.
The floating, production, storage and offloading (FPSO) market could be facing its toughest year in 2016 yet after it concluded 2015 with the least number of contracts awarded since 2009, according to analyst Energy Maritime Associates (EMA).
Keppel Offshore and Marine (Keppel O&M) rounded out 2015 with SGD125m ($88.5m) worth of contract wins.